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Oct 24, 2012
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fox business contributor phil flynn of price futures group standing by. phil, we're minutes away from the fed. i get the sense people are not expecting a whole bunch of anything today but we shall see. >> you're absolutely right. a lot of apathy. normally we're on the short end of the yield curve. before the fed decision you see a lot of orders coming in. people going against or betting on the consensus. we're hardly seeing any orders come in. that is very unusual on a fed day. that kind of shows you a lot of people don't expect a lot to happen. if you look at the fed fund futures of course, they're not even pricing in the possibility of an interest rate increase until august of 2014 for the july meeting there is a long way in the future before they will move. that doesn't mean the fed meeting will not be very exciting because a lot of people are looking at the last fed meeting before the big jobs report, before the election right now, could be very important depending on ben bernanke's future. that has been subject of a lot of debate for two reasons. rum
fox business contributor phil flynn of price futures group standing by. phil, we're minutes away from the fed. i get the sense people are not expecting a whole bunch of anything today but we shall see. >> you're absolutely right. a lot of apathy. normally we're on the short end of the yield curve. before the fed decision you see a lot of orders coming in. people going against or betting on the consensus. we're hardly seeing any orders come in. that is very unusual on a fed day. that kind...
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Oct 9, 2012
10/12
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phil flynn. bp is selling a texas city refinery to marathon petroleum. the deal will be worth around 2.5 billion dollars. this brings bp one step closer to its goal to sell off some assets in an effort to cover costs of the deepwater horizon spill. bp plans to sell off 38 billion dollars in assets by next year. greece is bracing for a big day. german chancellor angela merkel is paying a visit to athens. two of the largest unions there are calling for massive walkouts in the afternoon so workers can protest her visit. however, rallies will be banned today. emotions have been boiling over as greek citizens deal with layoffs, pension cuts and other austerity measures merkel and others in the e.u. are demanding. greece needs severe cuts in order to get another bailout to keep operating. stay tuned. as mentioned earlier, there have been more reports of friction at foxconn. foxconn is denying allegations of worker strikes following reports that thousands of employees struck friday. last week, the alleged strike stopped production on the latest iphone 5 for sev
phil flynn. bp is selling a texas city refinery to marathon petroleum. the deal will be worth around 2.5 billion dollars. this brings bp one step closer to its goal to sell off some assets in an effort to cover costs of the deepwater horizon spill. bp plans to sell off 38 billion dollars in assets by next year. greece is bracing for a big day. german chancellor angela merkel is paying a visit to athens. two of the largest unions there are calling for massive walkouts in the afternoon so workers...
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Oct 22, 2012
10/12
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phil flynn standing by at the cme. what do you got? robert: cheryl: at least we were looking at the oil contract, oil is down below 90. i was just in arizona. it was four dollars a gallon. that is crazy. dennis: do we have phil flynn wow. >> they have fallen more. is it because the election is right around the corner? yes, it is. it is because they hold the election in november and gas demand the weakest period of the year. demand is very weak. some places in the country have seen significant drops. drops close to $0.50 a gallon. this thing will continue to tank. good news in your gas tank. back to you. dennis: thank you, phil flynn. cheryl: researching your family history is actually big business. you will not believe how much ancestry .calm is being sold for. dennis: we will tell you about the penalties for lance armstrong. take a look at the dollar. ♪ it's new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axir
phil flynn standing by at the cme. what do you got? robert: cheryl: at least we were looking at the oil contract, oil is down below 90. i was just in arizona. it was four dollars a gallon. that is crazy. dennis: do we have phil flynn wow. >> they have fallen more. is it because the election is right around the corner? yes, it is. it is because they hold the election in november and gas demand the weakest period of the year. demand is very weak. some places in the country have seen...
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Oct 11, 2012
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flynn. "a lot of those situations are going to level out. long-term profitability will increase in the coming months." the situation in california underscores energy supplies in transition. the spike came as gas supplies were shifting from summer to winter blends. but the nation is also in an energy transition, from coal to natural gas. "demand for coal has been hit because of the cheap price of natural gas. production is so low that prices may even start to rise." but there's still a big debate about how quickly the u.s. may move toward natural gas. cars, trucks - natural gas filling stations? "you've really got to build infrastructure to deliver itto stations. it's wildly expensive." jason schenker sees oil prices going higher next year with the gap narrowing between west texas intermediate crude - known as wti - and brent blend, from the north sea. he predicts natural gas prices will stay low but begin trending upward in the next couple of years. wear and tear on the new iphone from apple
flynn. "a lot of those situations are going to level out. long-term profitability will increase in the coming months." the situation in california underscores energy supplies in transition. the spike came as gas supplies were shifting from summer to winter blends. but the nation is also in an energy transition, from coal to natural gas. "demand for coal has been hit because of the cheap price of natural gas. production is so low that prices may even start to rise." but...
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Oct 26, 2012
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flynn, who also contributes to fox business news---ready to tangle over hot topics. good morning gentlemen. good morning. round number one--- stocking up on the candidates... what's the market telling us about the election? i don't think it matters who gets elected. the performance of the last president--we've seen the stock market go up 100 percent. as a capitalist, regardless of your party if you can ignore your ideology---which i know you can't, i think you have to respect the returns in the marketplace. all of a sudden he doesn't care who's elected. this guy has been shilling for obama for a century. i'll tell you what--i think he's right, alan is right. the stock market is telling us something about the election. it's telling us that romney may win and that's why the stock market's been selling off here for the last couple of days. so that's what you want? you want the market to sell off? maybe we have to unwind the leverage instead of this bubble---we are the most de-leveraged that we've been . we've been printing money like crazy. round number two---will the m
flynn, who also contributes to fox business news---ready to tangle over hot topics. good morning gentlemen. good morning. round number one--- stocking up on the candidates... what's the market telling us about the election? i don't think it matters who gets elected. the performance of the last president--we've seen the stock market go up 100 percent. as a capitalist, regardless of your party if you can ignore your ideology---which i know you can't, i think you have to respect the returns in the...
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melissa: phil flynn, thank you so much. apple shares down for the fourth straight day hovering is $630, but my next guest thinks apple will fill top $1000 next year. with reports of the way over there to skip around and try to figure out what apple has up its sleeve. what have you figured out? >> we go every quarter to china, visit a lot of different companies, we want to get a feel for what is happening in the tech world, what we are seeing around apple is continued strength around the iphone 5, and also around the soon to be launched ipad mini. these are new products that have yield issues at first. melissa: why do you think the stock has gotten crushed? from the all-time high, it's hard to say there's any one thing. what you say is driving it? >> we are in the pre-earnings selloff. earnings in general will not be great, people know what some, investors know it, selling ahead of old stock. it falls on that. the second thing is there's a lot of concern around some of these supply constraints. we talked about the past week
melissa: phil flynn, thank you so much. apple shares down for the fourth straight day hovering is $630, but my next guest thinks apple will fill top $1000 next year. with reports of the way over there to skip around and try to figure out what apple has up its sleeve. what have you figured out? >> we go every quarter to china, visit a lot of different companies, we want to get a feel for what is happening in the tech world, what we are seeing around apple is continued strength around the...
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Oct 19, 2012
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sandra: phil flynn, great information. thank you. dennis: 15 past the hour, let's get the stocks every 15 minutes. nicole, the dow down 163, but two firms reporting. nicole: under pressure for the dow jones industrials. let's start off with some good news, these two companies, a lot of people are familiar with this wisconsin-based company. another based in california. the truth of the matter is they have come out, coming up with a third-quarter profit which was above the market expectations, and look at this up about 10%. another great mover today up about 5% as they continue to see revenue and margins rise across their segments, so we are seeing some good news. some of this comes by what we are seeing in europe, seeing it offsets and better forecast going forward. so that's something we're watching. the dow down 1.2%, we continue to see accelerated selling. still higher for the week, but losing that edge. sandra: thank you. no happy meals for mcdonald's. we will tell you why the stocks headed lower. dennis: former defense secretary
sandra: phil flynn, great information. thank you. dennis: 15 past the hour, let's get the stocks every 15 minutes. nicole, the dow down 163, but two firms reporting. nicole: under pressure for the dow jones industrials. let's start off with some good news, these two companies, a lot of people are familiar with this wisconsin-based company. another based in california. the truth of the matter is they have come out, coming up with a third-quarter profit which was above the market expectations,...
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Oct 24, 2012
10/12
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dennis: thank you, phil flynn. more cars and trucks are fueled by natural gas. how you can play it up ahead. cheryl: this could be a last presidential election in which you vote at the polls. the security of online voting. but first, look at the world currency and how they are all faring against the u.s. dollar. we will be right back. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you thbig picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a clasr that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. ge200 free trades today and explore your next investg idea. governor of tting it done. yoknow how to dance... with a deadline. and you...rentrom national. because only nional lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male annou
dennis: thank you, phil flynn. more cars and trucks are fueled by natural gas. how you can play it up ahead. cheryl: this could be a last presidential election in which you vote at the polls. the security of online voting. but first, look at the world currency and how they are all faring against the u.s. dollar. we will be right back. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you thbig picture on how different asset classes...
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melissa: phil flynn of price futures group, thank you. lori: multi- year highs. of at least 9% so far this year. average investors are running the other way in taking their money out of equities. david, so great to have you, as always. i would imagine wanting on a lot of investors mind right now is the futures? >> alcoa first. then we will go to the lineup. a couple of the big banks out early. wells, jpmorgan chase -- it looks to us as if we are talking about $25 a quarter, give or take a few pennies out of the s&p 500 index. that will be relatively flat. maybe in total, a few pennies better. that is $100 a year. operating earnings from the s&p in an environment where the long-term u.s. government reference riskless rate is under 2%. that is a bargain. melissa: i was interested to see the latest trading volumes. you are talking about the average investor walking away. in august, it was down 37%. that is year over year. that is compared to last august. when we see that the markets are up 9% for the year, i wonder if the individual investor is walking away from ret
melissa: phil flynn of price futures group, thank you. lori: multi- year highs. of at least 9% so far this year. average investors are running the other way in taking their money out of equities. david, so great to have you, as always. i would imagine wanting on a lot of investors mind right now is the futures? >> alcoa first. then we will go to the lineup. a couple of the big banks out early. wells, jpmorgan chase -- it looks to us as if we are talking about $25 a quarter, give or take a...
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phil flynn is there. crude oil is getting crushed. down about two dollars right now. >> if you look at all the commodities, we are down a little bit because of the jobs numbers. that generally pushes us down a little bit. there is a lot more going on in oil today. we had all the concerns with the refinery outages, etc., some of those problems seem to be easing a little bit. the pipeline has been restarted. that will put downward pressure on the price. we are seeing a little bit of a reduction of the risk premium once again because the syria turkey situation has seemed to calm down a little bit, at least for the moment. a lot of selling right now. we are seeing the spread. very interesting between the front month gasoline and the back months. the spread is huge. a sign that the pain in the gas market might be easing soon. melissa: everyone is focused on the story out in california where we have this fuel shortage and prices have popped up above five dollars did some reports you can find six dollars out there in california. does the fut
phil flynn is there. crude oil is getting crushed. down about two dollars right now. >> if you look at all the commodities, we are down a little bit because of the jobs numbers. that generally pushes us down a little bit. there is a lot more going on in oil today. we had all the concerns with the refinery outages, etc., some of those problems seem to be easing a little bit. the pipeline has been restarted. that will put downward pressure on the price. we are seeing a little bit of a...
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phil flynn of price futures group standing by at the cme. you have to give some people here an idea of where things are going, in particular, california. five dollars a gallon, amazing. >> i think governor brown made the right decision to waive that requirement for the summertime blend. that would have extended the situation. that would release another 10% of supply on the market immediately and the refiners do not have to worry about shutting down, making summer lines and get ready to refuel for the winter blend. this should ease the situation. some refineries are coming back online. we saw the smallest price increase in california since the crisis began. gasoline prices are falling in the rest of the country. that is right. most prices fell between two and $0.15 a gallon. we are seeing the november price fall along with oil. almost three cents a gallon. light at the end of the tunnel. back to you. cheryl: phil flynn, that would be nice to see and hear and not pay for. dennis: consumer demand for gas sipping electric car so lackluster that
phil flynn of price futures group standing by at the cme. you have to give some people here an idea of where things are going, in particular, california. five dollars a gallon, amazing. >> i think governor brown made the right decision to waive that requirement for the summertime blend. that would have extended the situation. that would release another 10% of supply on the market immediately and the refiners do not have to worry about shutting down, making summer lines and get ready to...
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Oct 22, 2012
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phil flynn, thanks so much. >> thank you. lori: president obama, governor mitt romney facing off in the third and final presidential debate tonight. the topic, foreign policy. most expect the u.s. economy to remain front and center. joining me dr. walid phares, fox senior middle east expert and advisor for governor mitt romney. welcome back. great to have you. >> thank you, lori, we know from the polls that people are voting on the domestic economy yet do you think the president's handling of the libyan crisis in recent weeks is enough to sway voters back to romney? >> basically the differences in foreign policy, national security views and specifically in the middle east and more particularly on libya are so deep, the president is making the case that having killed bin laden successfully of course, then al qaeda is going down. so he has not projected al qaeda will surge in many places including in libya and attack us. the governor will say, true that bin laden was killed but al qaeda is a live and attacks us and has killed a
phil flynn, thanks so much. >> thank you. lori: president obama, governor mitt romney facing off in the third and final presidential debate tonight. the topic, foreign policy. most expect the u.s. economy to remain front and center. joining me dr. walid phares, fox senior middle east expert and advisor for governor mitt romney. welcome back. great to have you. >> thank you, lori, we know from the polls that people are voting on the domestic economy yet do you think the president's...
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Oct 15, 2012
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cheryl: phil flynn up at the cme. phil thank you. >>> 15 past the hour, stocks every 15 minutes. nicole, possible amazon deal? nicole: that's right. i'm taking a look at amazon and also texas instruments. we have been reporting on this since early this morning. texas instruments, chips are actually used in amazon kindle and the kindle fire and they have had their eye on texas instruments and now turns out amazon is in advance talks to buy texas instruments. so we are seeing part of their chips -- so we're watching that, their chip arm we should be more specific. there's a look at texas instruments up 2 3/4%. amazon is down 1/3 of 1%. let's take a look here at the broader market averages, gaining some momentum here, moving back towards earlier highs of the day the dow, s&p up about 1/2%. the nasdaq composite up about 1/4 of 1%. back to you. dennis: i want to re-emphasize that, what a stunning development that would be, texas instruments, one of the most -- [inaudible] -- tech microchip company in the history, in talks to be acquired by amazon. the thought that amazon would venture
cheryl: phil flynn up at the cme. phil thank you. >>> 15 past the hour, stocks every 15 minutes. nicole, possible amazon deal? nicole: that's right. i'm taking a look at amazon and also texas instruments. we have been reporting on this since early this morning. texas instruments, chips are actually used in amazon kindle and the kindle fire and they have had their eye on texas instruments and now turns out amazon is in advance talks to buy texas instruments. so we are seeing part of...
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Oct 13, 2012
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joining me phil flynn, senior market analyst with the price futures group. wonderful to have you on the show. you and i have been doing this a long time. this time of year they come out with forecast to say what they think people will pay based on a lot of different things. everybody uses different kind of heat. let's buzz through it. heating oil is expected to reach a record of $3.80 a gallon. there isn't a huge percentage of people that use heating oil. we'll hit that first because it is a ugly number. why is it hitting this new huge record this year? >> probably because it at a record high for this time of year. if you look at inventories of heating oil right now, they're at the lowest level they have been in about 17 years. partf the reason is we're not storing heating oil because less and less people are using it. at the same time, demand for diesel which is part of the heating oil equation as you well know, the demand is strong overseas. we're exporting a lot of this to other countries. i don't think you can just blame the exports or lack of demand. i
joining me phil flynn, senior market analyst with the price futures group. wonderful to have you on the show. you and i have been doing this a long time. this time of year they come out with forecast to say what they think people will pay based on a lot of different things. everybody uses different kind of heat. let's buzz through it. heating oil is expected to reach a record of $3.80 a gallon. there isn't a huge percentage of people that use heating oil. we'll hit that first because it is a...
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Oct 29, 2012
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price futures group senior market analyst phil flynn has been following all the stories for us. i want to ask you, philings because you're at cme. s&p futures will open about an hour from now. investor sentiment pent up because markets closed today and tomorrow. what do you think will happen when the futures open in the 57 minutes? >> i think it will be pretty light volume. a lot of traders said the best way to get a market to stop going doww is shut it down. that negative activity we had going into last couple weeks may actually end. we may get a little bit of a rebound off this market just psychologically, but there is no doubt about the economic damage. we're talking about a loss of gross domestic product, probably bigger than irene. maybe $700 billion. definitely could have a negative impact. but traders are long-term thinkers. they think about the rebuilding down the road. that could keep the markets somewhat from falling apart on the opening. melissa: let me ask you about oil and gasoline and prices at the pump. oil tanking today, to a 3 1/2-month low. that is because trad
price futures group senior market analyst phil flynn has been following all the stories for us. i want to ask you, philings because you're at cme. s&p futures will open about an hour from now. investor sentiment pent up because markets closed today and tomorrow. what do you think will happen when the futures open in the 57 minutes? >> i think it will be pretty light volume. a lot of traders said the best way to get a market to stop going doww is shut it down. that negative activity we...
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let's get to phil flynn of the price futures group. >> they are getting an awful lot of help to keep pushing these prices higher. first of all caught you have the products exploding today. gasoline rocketing. heating oil rocking. creating a price spike. his comments, the dollar down. the risk entrÉe comes in in a big way. that always helps out the oil market. a nightmare if you have developed your gas tank. melissa: yes. absolutely. what a difference a day makes. lori: a fresh two-week high for the euro against the dollar. let's go to cleveland. reputation hammered over the years. serious revitalization expected from a brand new revenue generated casino. what is the education system is facing problems? liz claman is there live. liz: all of those great new business products and prospects. so much of that has come because of an organization. the partnership has been unbelievable. then, you have the mayor who feels he would give up all of this just to get the kids a great education here in the cleveland public schools which is notorious for having big problems. we want to introduce may
let's get to phil flynn of the price futures group. >> they are getting an awful lot of help to keep pushing these prices higher. first of all caught you have the products exploding today. gasoline rocketing. heating oil rocking. creating a price spike. his comments, the dollar down. the risk entrÉe comes in in a big way. that always helps out the oil market. a nightmare if you have developed your gas tank. melissa: yes. absolutely. what a difference a day makes. lori: a fresh two-week...
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Oct 15, 2012
10/12
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entire energy complex under pressure to date, let's get phil flynn. >> the imf is how many have to get your act together. the weak inflation figure shows later in the week we have seen the china and gdp numbers that it will be terrible, so really what you'r you are seeing is ded destruction fears playing out before your very eyes. a big selloff across the entire economics. we're seeing a big break in our gasoline futures. that is good news partially because of the lower crude prices, refineries are starting to come back online. the refining margins have been very good. with an expectation gasoline production is going to surge and as you know it is a lot easier to spin out the winter gasoline as opposed to the summertime. heating oil going back and forth a little bit weaker today but what we have seen is heating oil gasoline has been a strong trade they're looking at. melissa: it has been the biggest loser in the bunch after hitting fresh 2012 highs, all of a sudden what happened with mark speak with a price in winter last week. this week temperatures will warm up a little bit. people h
entire energy complex under pressure to date, let's get phil flynn. >> the imf is how many have to get your act together. the weak inflation figure shows later in the week we have seen the china and gdp numbers that it will be terrible, so really what you'r you are seeing is ded destruction fears playing out before your very eyes. a big selloff across the entire economics. we're seeing a big break in our gasoline futures. that is good news partially because of the lower crude prices,...
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Oct 18, 2012
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phil flynn of price futures group and fox business contributor is at the cme with latest. when might this drop show up at the pump? >> depends where you are in the country. it is happening in a big way. if you were in chicago prices have fallen over $0.49 a gallon in one month. they fell $0.20 a week. that may change with the refinery issue in indiana but right now they have come down but what is fueling the national average is problems in places like california where they have refineries is. those prices are at record highs so they are not officially keeping up. some parts of the country are saying these prices have been collapsing. other parts are saying what are prices going to move. another thing, yesterday's energy information administration report in supply and demand producing more gas than we are using by a couple million barrels a day. that should keep the price to the downside. cheryl: thank you, appreciate it. incredible video coming out of syria where the war between government rebels continue to escalate. we have more on that coming up. dennis: health care and
phil flynn of price futures group and fox business contributor is at the cme with latest. when might this drop show up at the pump? >> depends where you are in the country. it is happening in a big way. if you were in chicago prices have fallen over $0.49 a gallon in one month. they fell $0.20 a week. that may change with the refinery issue in indiana but right now they have come down but what is fueling the national average is problems in places like california where they have refineries...
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Oct 16, 2012
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melissa: phil flynn of price futures joins us now. natural gas is down again after snapping a winning streak yesterday. phil: put those sweaters away for another couple weeks. temperatures are warm enough. natural gas is pulling down and this was exploding upward over the last couple weeks and expectations of winter but mother nature -- we would get a blast this summer and temperatures will be up. natural gas market is overdone. supplies well above average this time of year. the market will pull down more. melissa: what is doing on with coke? >> rocking today. this market has been under a lot of pressure because of the international association showing it is down 16.1% from a year ago but not as bad as they fought for and consumer confidence, they consume more chocolate than anyone else in the world. 25 pounds per person. in germany it goes up. chocolates and beer you are happy in germany. melissa: in new colonel for us we didn't know every day. chocolate consumption is tied to nobel prize winners as well. anyway let's get a check of
melissa: phil flynn of price futures joins us now. natural gas is down again after snapping a winning streak yesterday. phil: put those sweaters away for another couple weeks. temperatures are warm enough. natural gas is pulling down and this was exploding upward over the last couple weeks and expectations of winter but mother nature -- we would get a blast this summer and temperatures will be up. natural gas market is overdone. supplies well above average this time of year. the market will...
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dennis: nicely done, phil flynn. cheryl: the company is hoping to glimpse up cleveland, ohio. what does this mean? >> barclays center just opened for the brooklyn nets. revitalization project, denver stapleton airport major metropolitan cities would like to reinvigorate their area, they come here to cleveland. the chairman and the ceo join me live exclusively will give you an outlook on commercial real estate, what is happening in the renters market when it comes to apartments and what are the new big projects? and they're stock up over the past year. open for business here in cleveland, ohio. [ mujahid ] there was a little bit of trepidation, not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪ cheryl: we all know times square with a renovated theaters and huge hotels, but it wasn't al
dennis: nicely done, phil flynn. cheryl: the company is hoping to glimpse up cleveland, ohio. what does this mean? >> barclays center just opened for the brooklyn nets. revitalization project, denver stapleton airport major metropolitan cities would like to reinvigorate their area, they come here to cleveland. the chairman and the ceo join me live exclusively will give you an outlook on commercial real estate, what is happening in the renters market when it comes to apartments and what...
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phil flynn of rice futures group is there. oil just getting crushed right now. >> the inventory report was polish. people are talking about the slowdown in china, uncertainty with europe, all of that leads into the market. oil is reacting more than just any other commodity on the board heard some of this we believe is reasonable. this time of demand, we saw an uptick in refineries. it has been getting flushed lately. it is increasing the pressure on iran. we have also heard talk coming out of israel that they are thinking about giving more time. moving more towards negotiations. boyle seasonally sticking out like a sore thumb. saudia arabia is lowering the price for oil. they need to sell more oil. faith is a sense of right now demand is weak locally. lower prices. melissa: gasoline is getting hit? >> look at where we are coming from and we did it a two week low on the rbob future. generally speaking when you see the prices come down, really, rbob has been out of whack with rude. i do not know if it is that, but definitely par
phil flynn of rice futures group is there. oil just getting crushed right now. >> the inventory report was polish. people are talking about the slowdown in china, uncertainty with europe, all of that leads into the market. oil is reacting more than just any other commodity on the board heard some of this we believe is reasonable. this time of demand, we saw an uptick in refineries. it has been getting flushed lately. it is increasing the pressure on iran. we have also heard talk coming...
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phil flynn joins me now from the cme. >> this is like one of those horror movies you think the monster is dead at the end. every time we think the market is out, something bad happens. not only did we have a refinery fire, the best refinery in the country, we also have increased mining. although magic talking about the euro being invincible, on the defense right now. you have to keep an eye on heating oil because they are thy tight as well. the refinery fire in texas may have more of an impact on heating oil and diesel fuel than gasoline but old on fire right now, supplies to both are very tight and below average for this time. dennis: 15 past the hour, the worst bits of the performer. >> looking at dow components, 3m at the same time, these two companies were supposed to have a deal with concerns by regulators obviously putting this one to bed. looking at 3m and avery, we have the consumer products business about a month after the regulators have these concerns on the proposed deal, now 3m is dropping its effort to make that purchase, so we're seeing a very under pressure. tracy: than
phil flynn joins me now from the cme. >> this is like one of those horror movies you think the monster is dead at the end. every time we think the market is out, something bad happens. not only did we have a refinery fire, the best refinery in the country, we also have increased mining. although magic talking about the euro being invincible, on the defense right now. you have to keep an eye on heating oil because they are thy tight as well. the refinery fire in texas may have more of an...
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phil flynn of price futures group and fox contributor joins us from the cme. >> natural gas producers sing christmas came early. they are selling into this rally all the way up and increasing selling as prices go higher. it is anticipating we might get a normal winter unlike last winter which was the warmest in 100 years and an early cold front that cause a lot of buying in the business market but producers are not buying in or selling into a. there will be a pretty good injection, normal with five year average and the fact that supplies end up above the five year average. seems like you are pricing in winter this week. you may miss it because by the time the weather comes, prices may go down so in inverse reaction, in cold weather. tracy: i am doing the go way snow dances. >> whatever you are doing keep it up. [talking over each other] >> i am joining you. >> the economy, central focus of the debate. and 62,000 private payroll jobs out there. big jobs report friday. and liz macdonald is here with the bottom line. liz: numbers show slowing jobs in august numbers. and will we are seein
phil flynn of price futures group and fox contributor joins us from the cme. >> natural gas producers sing christmas came early. they are selling into this rally all the way up and increasing selling as prices go higher. it is anticipating we might get a normal winter unlike last winter which was the warmest in 100 years and an early cold front that cause a lot of buying in the business market but producers are not buying in or selling into a. there will be a pretty good injection, normal...
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Oct 19, 2012
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melissa: oil down and fox business contributor phil flynn in the trading pits of the cme. what is at work here? phil: concerns about demand destruction and concerns about the economy with bad data and concerns about europe, really didn't come to an agreement. it will be until the end of the year if they do come to agreement. you also have to look at the ongoing story with the keystone pipeline. the anomaly that took it off line didn't impact supplies and if it is brought back on line by sunday, still on target, it will impact the market a bit meaning it will go down a little bit. you also have china demand and concern that gdp was overstated because if you look at oil demand is down substantially from where it was a year ago. the demand is down 100,000 barrels a day. all that play today putting the sinking feeling across the complex today. melissa: natural gas it a fresh 2012 high. is there more room there? phil: technically we're close to the top but i am amazed people are shocked. this is going to become winter right now and we had some forecasts despite the fact decembe
melissa: oil down and fox business contributor phil flynn in the trading pits of the cme. what is at work here? phil: concerns about demand destruction and concerns about the economy with bad data and concerns about europe, really didn't come to an agreement. it will be until the end of the year if they do come to agreement. you also have to look at the ongoing story with the keystone pipeline. the anomaly that took it off line didn't impact supplies and if it is brought back on line by sunday,...